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Tag: Wealth of Nations

Beggar Thy Neighbor Policy

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Beggar thy neighbor policy is an economic policy which aims to boost the economy of a country, while worsening the economic conditions for another country.

Classical Economics: Praising the free market

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Classical Economics, highly regarded as the first school of economic thought, experienced its heyday during the 18th and 19th centuries. Numerous economists of the time such as Adam Smith, Irving Fisher, John Stuart Mills and David Ricardo have contributed to classical economics.

Adam Smith

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Adam Smith, highly regarded as the father of economics, was born in 1723 in Scotland. He is best known for his masterpiece which he published in 1776, “An Inquiry into the Nature…

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  • Amos Tversky
  • Daniel Kahneman
  • cognitive bias
  • Milton Friedman
  • Wealth of Nations
  • Nobel Prize Laureate
  • Adam Smith
  • 20:20 ratio
  • law of small numbers
  • the halo effect
  • wealth inequality
  • income inequality
  • Law of Large Numbers
  • Dow Jones Industrial Average
  • status quo bias
  • Behavioral Economics
  • daniel kahnemann
  • hyperinflation
  • the gambler's fallacy
  • gambler's fallacy
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